Green Kinetic Marketing: Assessment Brief Green Kinetic Ltd

GREEN KINETIC PRODUCT MARKETING PLAN
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MARKET ENVIRONMENT ANALYSIS 
Industry Overview and Product Description
Energy conservation is one of the major topics being endorsed in the world right now. The use of energy generated from or natural resources are seen to be degrading to the resources themselves thus renewable sources of energy are under advisement. Using renewable energy sources has become an interesting trend which has stimulated the creativity of many individuals to develop power sources through other means ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "ISBN" : "978-92-64-20130-9", "ISSN" : "0140489X", "abstract" : "Presents updates on the economies of several countries as of February 1998. Risk of an economic recession in Japan; Impact of the Asian financial crisis on the world economy; Inflation rates in the United States and Europe.", "author" : [ { "dropping-particle" : "", "family" : "International Energy Agency", "given" : "", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "World Energy Outlook 2013", "id" : "ITEM-1", "issued" : { "date-parts" : [ [ "2013" ] ] }, "page" : "197 - 232", "title" : "Renewable Energy", "type" : "article-journal" }, "uris" : [ "/documents/?uuid=4cf998f9-5427-4e1d-8282-6babe30a6e90" ] } ], "mendeley" : { "formattedCitation" : "(International Energy Agency, 2013)", "plainTextFormattedCitation" : "(International Energy Agency, 2013)", "previouslyFormattedCitation" : "(International Energy Agency, 2013)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(International Energy Agency, 2013). Also known as green energy, renewable energy has impacted many lives positively such as by creating employment for some people. One form of renewable energy majorly used is solar energy.
One problem with sources of energy is that people have to depend on other people to provide them hence making it some sort of monopoly. Innovations are however underway to make it possible for individuals to generate their own energy. One such form is kinetic energy which is generated through movement ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.energy.2006.10.017", "ISBN" : "0360-5442", "ISSN" : "03605442", "abstract" : "This paper discusses the perspective of renewable energy (wind, solar, wave and biomass) in the making of strategies for a sustainable development. Such strategies typically involve three major technological changes: energy savings on the demand side, efficiency improvements in the energy production, and replacement of fossil fuels by various sources of renewable energy. Consequently, large-scale renewable energy implementation plans must include strategies for integrating renewable sources in coherent energy systems influenced by energy savings and efficiency measures. Based on the case of Denmark, this paper discusses the problems and perspectives of converting present energy systems into a 100% renewable energy system. The conclusion is that such development is possible. The necessary renewable energy sources are present, and if further technological improvements of the energy system are achieved the renewable energy system can be created. Especially technologies of converting the transportation sector and the introduction of flexible energy system technologies are crucial. \u00a9 2006 Elsevier Ltd. All rights reserved.", "author" : [ { "dropping-particle" : "", "family" : "Lund", "given" : "Henrik", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "Energy", "id" : "ITEM-1", "issue" : "6", "issued" : { "date-parts" : [ [ "2007" ] ] }, "page" : "912-919", "title" : "Renewable energy strategies for sustainable development", "type" : "article-journal", "volume" : "32" }, "uris" : [ "/documents/?uuid=467fc45c-ba30-4adc-8325-1ddff6bbf785" ] } ], "mendeley" : { "formattedCitation" : "(Lund, 2007)", "plainTextFormattedCitation" : "(Lund, 2007)", "previouslyFormattedCitation" : "(Lund, 2007)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Lund, 2007). Such energy may be used to provide energy for small devices such as phones and iPod hence reducing on the cost of electricity. The Green Kinetic product is a device which can perform such tasks. It consists of a device the size of an iPod which can be worn or carried in a bag. It is equipped with superconductive dynamos that are triggered by movement of an individual when agitated to produce a charge ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.energy.2006.10.017", "ISBN" : "0360-5442", "ISSN" : "03605442", "abstract" : "This paper discusses the perspective of renewable energy (wind, solar, wave and biomass) in the making of strategies for a sustainable development. Such strategies typically involve three major technological changes: energy savings on the demand side, efficiency improvements in the energy production, and replacement of fossil fuels by various sources of renewable energy. Consequently, large-scale renewable energy implementation plans must include strategies for integrating renewable sources in coherent energy systems influenced by energy savings and efficiency measures. Based on the case of Denmark, this paper discusses the problems and perspectives of converting present energy systems into a 100% renewable energy system. The conclusion is that such development is possible. The necessary renewable energy sources are present, and if further technological improvements of the energy system are achieved the renewable energy system can be created. Especially technologies of converting the transportation sector and the introduction of flexible energy system technologies are crucial. \u00a9 2006 Elsevier Ltd. All rights reserved.", "author" : [ { "dropping-particle" : "", "family" : "Lund", "given" : "Henrik", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "Energy", "id" : "ITEM-1", "issue" : "6", "issued" : { "date-parts" : [ [ "2007" ] ] }, "page" : "912-919", "title" : "Renewable energy strategies for sustainable development", "type" : "article-journal", "volume" : "32" }, "uris" : [ "/documents/?uuid=467fc45c-ba30-4adc-8325-1ddff6bbf785" ] } ], "mendeley" : { "formattedCitation" : "(Lund, 2007)", "plainTextFormattedCitation" : "(Lund, 2007)", "previouslyFormattedCitation" : "(Lund, 2007)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Lund, 2007).
The Green Kinetic product use sophisticated dynamos that are different from other competitors’ dynamos which don’t charge their batteries very well. They also use less movement hence less effort is required to ignite them. The Green Kinetic product’s dynamo has been patented hence no other company can use it in their kinetic devices designs. The uniqueness of the product has enabled the Green Kinetic Ltd to grow over the years. Growth of the company also enhances its expansion in the process. In effect, a marketing plan that will facilitate the growth of Green Kinetic Ltd has been developed to continue the growth of the company into the Melbourne metropolitan market.
Macro Environment
The macro environment of the company includes external factors that influence the company’s activities. They include political, demographic, economic, cultural and technological factors ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.ibusrev.2014.10.001", "ISBN" : "0969-5931", "ISSN" : "09695931", "abstract" : "We review the extant literature on market entry modes to explain the multi-levels of the political environment that can have a moderating effect on transnational corporations' (TNC) market entry processes. Based on a systematic review of the Uppsala model, transaction cost analysis, real options, eclectic paradigm, industrial network, and institutional approaches, we show that the market entry modes literature has largely excluded some aspects of the political environment from market entry mode decisions. 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Being a technologically influenced product, the Green Kinetic product should be equipped with the latest technological components that enhance its performance. The synchronization of the parts should as well meet the international standards that govern such devices. The demographical factors include the target customers of the company. Melbourne has an averagely young population thus he Green Kinetic product should be marketable in the metropolitan area. Young people like to move around hence most of them won’t mind to walk around while charging their devices ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.technovation.2004.07.006", "ISBN" : "0166-4972", "ISSN" : "01664972", "abstract" : "The greening of product innovation process has been under study by researchers, but mostly it is at an anecdotal level. Extant literature asks for empirical study to explore how to make greener products more successful at the market place. 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The cultural factors include the attitude of the community to which the product will be introduced. The Melbourne metropolitan area is filled with tech savvy people hence them getting accustomed to using the product will not be a big problem. The economic, natural and political factors depend on how they have been set by the regulatory bodies of Australia ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.ibusrev.2014.10.001", "ISBN" : "0969-5931", "ISSN" : "09695931", "abstract" : "We review the extant literature on market entry modes to explain the multi-levels of the political environment that can have a moderating effect on transnational corporations' (TNC) market entry processes. 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The three macro environmental factors depend on the stability of the government in the country. The Australian government is stable hence no major issues will be faced here.
Micro Environment
The micro environment consists of the factors that the company can control comfortably. They include the customers, suppliers, competitors, intermediaries and the employees. All these factors combine to perform their functions according to the company’s goals ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.ibusrev.2014.10.001", "ISBN" : "0969-5931", "ISSN" : "09695931", "abstract" : "We review the extant literature on market entry modes to explain the multi-levels of the political environment that can have a moderating effect on transnational corporations' (TNC) market entry processes. Based on a systematic review of the Uppsala model, transaction cost analysis, real options, eclectic paradigm, industrial network, and institutional approaches, we show that the market entry modes literature has largely excluded some aspects of the political environment from market entry mode decisions. 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The suppliers should always ensure that the materials used in manufacturing the product are delivered timely to the company premises. This facilitates the speed in production of the devices. Once supplied, the employees work to manufacture the Green Kinetic product depending on the demand requested by the customers in the market. The competitors keep the company on their toes so that its employees can manufacture cutting edge products based on the edge that the company has over them. The patent also ensures that the quality of their products are not tampered with by the competitors if they plan to replicate it ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "DOI" : "10.1016/j.technovation.2004.07.006", "ISBN" : "0166-4972", "ISSN" : "01664972", "abstract" : "The greening of product innovation process has been under study by researchers, but mostly it is at an anecdotal level. 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Once the micro and macro environmental factors are aligned, the company will be able to make adequate sales within the market.
SEGMENTATION, TARGETING AND POSITIONING STRATEGY
Market Segmentation
The process of market segmentation involves partitioning a market into established groups which contain individuals that are conceived to have the same interests, needs or priorities which may need to have different products or marketing mixes ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "ISBN" : "2222-2839", "ISSN" : "2222-2839", "abstract" : "This article addresses the research question, what is the best method of consumer market segmentation. It deals with the issues that are already discussed by the researchers and also identifies the research gap for the further researches. It focuses on the definition, basis of market segmentation and issues related to market segmentation in detail. This research paper will provide information about the knowledge gap and will show a path for future research in the area of market segmentation, which is the heart of marketing now a day. Keywords: Market segmentation, basis of segmentation, marketing", "author" : [ { "dropping-particle" : "", "family" : "Goyat", "given" : "Sulekha", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "European Journal of Business and Management", "id" : "ITEM-1", "issue" : "9", "issued" : { "date-parts" : [ [ "2011" ] ] }, "page" : "45-54", "title" : "The basis of market segmentation: a critical review of literature", "type" : "article-journal", "volume" : "3" }, "uris" : [ "/documents/?uuid=99bd6e7f-efde-49b0-bb3f-5e49ec74a8da" ] } ], "mendeley" : { "formattedCitation" : "(Goyat, 2011)", "plainTextFormattedCitation" : "(Goyat, 2011)", "previouslyFormattedCitation" : "(Goyat, 2011)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Goyat, 2011). Market segmentation is done in several ways since there are various variables which control the classification of customers in a single market. The segmentation process can be done demographically, geographically, behaviourally or through psychographic methods. The segmentation process therefore should be selected carefully in order to get the best segmentation method that will result in the highest profit gains when the product is delivered into the market. They all help in understanding the target market and the marketing decisions made in the process ADDIN CSL_CITATION { "citationItems" : [ { "id" : "ITEM-1", "itemData" : { "abstract" : "Elaborates on the prerequisites for designing a successful marketing strategy: market segmentation, target market selection, and product positioning. [ABSTRACT FROM AUTHOR]", "author" : [ { "dropping-particle" : "", "family" : "Sarvary", "given" : "Miklos", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" }, { "dropping-particle" : "", "family" : "Elberse", "given" : "Anita", "non-dropping-particle" : "", "parse-names" : false, "suffix" : "" } ], "container-title" : "Harvard Business School Cases", "id" : "ITEM-1", "issue" : "501", "issued" : { "date-parts" : [ [ "2006" ] ] }, "page" : "1", "title" : "Market Segmentation, Target Market Selection, and Positioning.", "type" : "article-journal" }, "uris" : [ "/documents/?uuid=22003300-ad16-41ca-9cbd-27b6d7fdf35a" ] } ], "mendeley" : { "formattedCitation" : "(Sarvary and Elberse, 2006)", "plainTextFormattedCitation" : "(Sarvary and Elberse, 2006)", "previouslyFormattedCitation" : "(Sarvary and Elberse, 2006)" }, "properties" : { "noteIndex" : 0 }, "schema" : "https://github.com/citation-style-language/schema/raw/master/csl-citation.json" }(Sarvary and Elberse, 2006).
The best segmentation process that should be applied in Melbourne metropolitan area is demographical segmentation. Being a metropolitan area, Melbourne is filled with people who are accustomed to the urban lifestyle hence their awareness of technology is already established. It is quite a large city hence the population density is biased towards the youth which are better at understanding technological products. Part of the elderly population ...